The reservoir analysis market is projected to reach USD 8.95 billion by 2022, growing at a CAGR of 4.11%, from 2017 to 2022. This growth is attributed to increasing focus on mature oil & gas fields and new field developments, increase in energy demand from emerging economics, and increased reliability in reservoir analysis due to technology advancements.

High cost, complexity and risk associated with reservoir analysis, political issues, and lack of technological capabilities, are key restraints for the growth of the reservoir analysis market.

“Data Acquisition and Monitoring Services: The fastest service segment of the reservoir analysis market”

Data acquisition and monitoring services is the fastest growing segment for reservoir analysis during the forecast period.

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It also holds the largest share in the reservoir analysis market.

Data acquisition and monitoring services help to enhance reservoir functionality and optimize production by providing real time information with a faster decision cycle. Various equipment and software are used to perform the data acquisition task.

The tools that are used include memory gauges, surface readout tools, and surface measuring equipment, which are used to get accurate and real time data of a well. The increase in E&P activities from unconventional resources, is expected to increase the demand for data acquisition and monitoring services

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